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Originally Posted by dingo222
(Post 1162042)
reading the faqs on the company site, thank god for the jcba and the language brought over from the measaba and old pcl contracts. if you didnt notice, all fas, mechanics etc will have to reapply for any vacancies at pinnacle and start over as new hires. no moving expenses, no furlough protections, year one pay etc. once the colgan cert is done, any remaining non pilot furlough will be terminated. this is going to suck for us all. we thought 11-09 was a mess. enjoy the 250k menke.
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Guys, not that what I say will help anything, but as a Comair guy who is about to be on the street, I have been impressed by other airlines trying to help out guys who are about to be furloughed. Thankfully, your pilot group hasn't burned many bridges, and airlines will be there to help the furloughs.
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Originally Posted by DL31082
(Post 1162076)
Man seriously. That's not funny. We are losing 80 aircraft. Which probably means I'm on the street.
Originally Posted by Undrfly
(Post 1162078)
Me and you both my friend...
3rd...This is gonna suck...any idea's on were to look next? Everything I can find about going anywhere else reads "stay away!". When I do a little research I can't find one regional that doesn't look like their going to be up ******* creek within 3yrs. Any thoughts? |
The Former Officer Agreements . The Debtor hereby seek to reject the Consulting Agreement (the “Trenary Agreement”) dated March 10, 2011 between Pinnacle Holdings and Philip H. Trenary (“Trenary”) and the Release Agreement (the “Shockey Agreement” and together with the Trenary Agreement, the “Former Officer Agreements”) dated October 19, 2011 between Pinnacle Holdings and 12-11343 Doc 19 Filed 04/02/12 Entered 04/02/12 00:35:52 Main Document Pg 4 of 20 5 Douglas W. Shockey (“ Shockey”), in each case effective as of the Petition Date. Pursuant to the Officer Agreements, the Debtors pay Trenary for consulting services and Shockey for non-revocation of a release signed concurrently with the Shockey Agreement. The Debtors are eager to use these chapter 11 proceedings to maximize value for all stakeholders and emerge as stronger businesses. After analyzing the Officer Agreements, the Debtors have determined, in the sound exercise of their business judgment, that rejecting the Former Officer Agreements would benefit the Debtors’ estates by allowing the Debtors to avoid accruing ongoing payment obligations under the Former Officer Agreements, which provide no ongoing benefit to the Debtors’ estates. The Debtors estimate that the total savings from rejecting the Officer Agreements will exceed $1,500,000. |
Best of luck to everyone over there!
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Originally Posted by seahawker01
(Post 1162088)
The Former Officer Agreements . The Debtor hereby seek to exceed $1,500,000.reject the Consulting Agreement (the “Trenary Agreement”) dated March 10, 2011 between Pinnacle Holdings and Philip H. Trenary (“Trenary”) and the Release Agreement (the “Shockey Agreement” and together with the Trenary Agreement, the “Former Officer Agreements”) dated October 19, 2011 between Pinnacle Holdings and 12-11343 Doc 19 Filed 04/02/12 Entered 04/02/12 00:35:52 Main Document Pg 4 of 20 5 Douglas W. Shockey (“Shockey”), in each case effective as of the Petition Date. Pursuant to the Officer Agreements, the Debtors pay Trenary for consulting services and Shockey for non-revocation of a release signed concurrently with the Shockey Agreement. The Debtors are eager to use these chapter 11 proceedings to maximize value for all stakeholders and emerge as stronger businesses. After analyzing the Officer Agreements, the Debtors have determined, in the sound exercise of their business judgment, that rejecting the Former Officer Agreements would benefit the Debtors’ estates by allowing the Debtors to avoid accruing ongoing payment obligations under the Former Officer Agreements, which provide no ongoing benefit to the Debtors’ estates. The Debtors estimate that the total savings from rejecting the Officer Agreements will Oh, and I cant believe that these morons actually registered the domain name http://www.pinnaclerestructuring.com/ |
Originally Posted by dingo222
(Post 1162033)
somebody please corner menke on the conference call and ask about the plan for out of senority furloughs etc. some of us will be flying this am during the call. thx.
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Ok... I just have to say that this is going to SUCK for all the pilots here. And, in all honesty, more so for the Pinnacle/Mesaba guys that could potentially be furloughed because of Colgan Air ceasing operations. But I acknowledge that the Pinnacle 900s are being parked too. Doesn't change what's already happened and what is going to happen.
All I can say is best of luck to all of us, and if anyone needs a letter of rec feel free to PM me. Stay safe out there!! |
Originally Posted by What
(Post 1161914)
So Pinnacle and Eagle will solve the pilot shortage! We are doomed :mad:
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Originally Posted by FlyingKat
(Post 1161989)
RAH is parking the last of its Q400s on April 24. Bedford hates props...
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